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FHFA Under Pressure to Act More Like a Bank Regulator with Fannie & Freddie

April 19, 2018
Carisa Chappell
Republican congressmen generally agreed with the IG’s recommendations and raised additional concerns about mission creep at Fannie and Freddie…
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Phoenix Selling a Large Bulk MSR Portfolio. Bid Deadline: May 1

April 19, 2018
Paul Muolo
All of the receivables were originated through the retail channel…
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Industry Groups Divided Over FHFA’s Proposed Options For Credit Scoring Strategies at Fannie and Freddie

April 19, 2018
The Consumer Federation of America agreed that the FICO score used by Fannie and Freddie is outdated and amounts to a monopoly on scoring. It supports the lender-choice option, but with constraints. The CFA recommended that lenders be required to pick a provider for a minimum period and said the models used by the two government-sponsored enterprises should align with one another.
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Strong 1Q Earnings for MGIC, but NIW Declines; Freddie’s IMAGIN Pilot Gets a Mention…

April 18, 2018
Paul Muolo
In 1Q18, MGIC wrote $10.6 billion of new MI policies compared to $12.8 billion in 4Q17 and $9.3 billion in the first quarter of last year.
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Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

April 18, 2018
Carisa Chappell and Paul Muolo
As a practice, IBM rarely says a word about Seterus...
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Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac

April 17, 2018
Brandon Ivey and Paul Muolo
Is Bank of America doing a slow fade on mortgages?
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Fannie Addresses Risk Layering in High DTI Loans

April 16, 2018
Carisa Chappell
Back in July 2017, Fannie revised its automated underwriting system to accept loans with DTI ratios over 45 percent without lenders having to show other compensating factors…
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Pershing Square Doubles Down on its GSE Bets

April 16, 2018
Paul Muolo
In the 2017 annual report, Pershing Square lists Fannie and Freddie common among its “losers…”
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Early 2018 Brings More Volatility to GSE Single-Family Rivalry

April 16, 2018
John Bancroft
In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”
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Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

April 16, 2018
Paul Muolo
Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...
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